I've seen so many otherwise smart founders mistakenly try to adjust their companies after bogus rejections from investors.
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Next time you hear "It's a crowded market," or "We're concerned about your low margins," just translate them to "No."
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Example of a startup in (what was) a crowded market: Google. Example of a startup with low margins: Amazon.
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Your advice appears to be based exclusively on survivorship bias. Being in a crowded market does not transform you into Google.
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Was that what I meant?
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You say "crowded market" is a "bogus rejection" and present Google as evidence; argument is only valid if Goog success was related to market
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No. To work as a counterexample, all Google has to do is succeed despite being in a crowded market.
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You're really saying Google's success despite being in a crowded market means that ALL investor criticism based on crowded markets is bogus?
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The worst is, "I'm not investing right now."
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1/ I generally tell companies to ignore any rejection feedback (including my own). The only reason that matters is, "I don't think...
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2/ you're one of the top ~3 things I'll see this year, but I'm wrong all the time"
End of conversation
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Plenty of investors would be turning down a "fully priced"
@uber now
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at least "it's not you it's me" doesn't send false message that you can fix something and re-apply.
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2/2 but founder shouldn't just change. It should be "Have I thought about this issue and am I confident I can overcome it?"
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1/2 Any VC feedback is important, it points out a problem area you may not see as founder. Even if it may not be main reason for rejection
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What do you do if they keep asking you over and over and over again?
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Not sure I agree. Only an investor can give investor relevant feedback. Else, a black market for lucky rabbit's foot will quickly develop.
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Its like the girl you love, she loves $omebody else.
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